Browsing: ExxonMobil

  • Uganda, Kenya, and Tanzania are building their oil and gas economies at a very fast pace
  • Algeria is Africa’s leading natural gas producer, with almost 2.4 trillion cubic meters of proven reserves
  • Nigeria is Africa’s largest oil producer, and Africa accounted for approximately eight per cent of the global oil output in 2020

When it comes to oil and gas in Africa, there is plenty of potential to produce enough energy on the continent.

Africa accounted for approximately eight per cent of the global oil output in 2020. Similarly, at least 330 million metric tonnes of oil will be produced in Africa in 2020 (Statista). Global oil and gas players such as ExxonMobil, Shell, Equinor, and BP are pushing the continent forward.

The energy sector in East Africa is rapidly expanding its commercial potential thanks to Tanzania. The EACOP pipeline, upstream offshore gas projects, LNG project discussions, and various renewable …

  • Tanzania has been exploring oil deposits for more than 4 decades
  • The Late President Magufuli challenged the nation’s petroleum company to explore further
  • Uganda’s oil discovery in Lake Albert prompted further exploration in Tanzania’s Lake Rukwa basin

Tanzania’s oil and gas economy improved as the East African nation’s oil exploration struck substantial oil deposits in the Wembere-Eyasi basin earlier this week. The drilled wells have been observed to contain rich contents of hydrocarbon resources—which indicate the presence of oil deposits. There is oil in Tanzania but also a vast potential to expand the economy over the decades.

This victory comes after Tanzania’s oil, and gas economy experienced a significant shift in investment and commercialization, with extensive industry players such as ExxonMobil and Shell committing to exploring Tanzania’s potential.

Africa has made up five of the top 30 oil-producing countries in the world. While nations such as Angola, Nigeria, Algeria, Libya, …

  • Tanzania plans to explore more natural gas reserves in F22/23
  • Only 30 per cent of the area has been explored for natural gas reserves
  • Uganda and Kenya are developing their oil and gas sectors swiftly

Oil and gas in Tanzania is the shining armour with the potential to draw trillions and expand the economy.

Tanzania has an ambition, and it is gigantic enough to levitate its global economy towards an oil and gas stage. The East African nation’s natural gas landscape is the new playing ground with the potential to transform the nation’s labour and industrial complex.

Natural gas in Tanzania is the new big deal. This form of energy isn’t only clean and safe, but it is a lucrative business with the potential to draw trillions of dollars for the nation.

According to the ministry of energy, Tanzania has discovered 57 trillion cubic feet (tcf) of natural gas. This …

  • Natural gas in Tanzania has become domesticated as a 542 km pipeline that simplifies the delivery of gas to Dar es Salaam
  • Tanzania has a signed a gas transportation deal with Kenya
  • Tanzania and Uganda are partnering to become oil economies

Covid-19 and uncertainty may stress Tanzanians, but the oil and gas economy will never disappoint the East African nation, and sustainable investment won’t harm it.

While Uganda has already set its feet in the oil sector with the East African Crude Oil Pipeline project (EACOP), oil and gas in Tanzania present a lucrative and competitive element. There are signs that Tanzania could be the next oil and gas economy in East Africa.

It is against this background that the 2022 Tanzania Energy Congress (TEC) is being held in the East African nation under the flagship of the country’s Energy Ministry and under the patronage of January Makamba, the Minister …

  • ExxonMobil, Shell, and Ophir Energy are doubling down on Tanzania’s LNG
  • Tanzania plans to explore more natural gas in the next financial year F22/23
  • The LNG project is expected to commence in 2025

Tanzania’s Liquified Natural Gas (LNG) base just got much more interesting as the government of Tanzania and a consortium of oil and gas giants—Shell, ExxonMobil, Equinor, and Ophir Energy ink an initial Host Government Agreement (HGA) to realize a $30billion LNG project in Tanzania.

Over the past five years, LNG in Tanzania has grown to become another crucial tool for Tanzania to enhance its economy and transform its energy sector for the long term.

Tanzania LNG developments put Tanzania in a very competitive sport across the continent and the world.

The project is slated to commence in 2025—once negotiations are successful, Tanzania eyes the project as among the top three flagship investments, placing Tanzania as a strategic, …

  • Tanzania has an estimated  57 trillion cubic feet of natural gas reserves
  • ExxonMobil, Equinor, and Shell are among two top energy giants investing in Tanzania gas
  • Tanzania has secured a $30 billion investment in its LNG project

Tanzania’s natural gas reserves have just proven to be extremely necessary for the nation’s economy and energy sector at large.

On April 29, Tanzania took the extractive sector to another level by nailing an agreement with exploration companies to construct a vast liquefied natural gas (LNG) plant worth $30 billion.

Tanzania’s LNG sector presents a necessary power generation and consumption potential, and the plant is just a success story for Tanzania.

According to information from The Citizen, a team of experts is currently in negotiations with five oil and gas firms – Shell, Equinor ExxonMobil, Pavillon, and Ophir as the project will be executed in the Lindi region, south of Tanzania.

Natural gas …

Monetization in Mozambique’s natural oil and gas

Mozambique is expected to become a major exporter by 2023 following the discovery of over 180 tcf of natural gas reserves in the Rovuma basin by Anadarko and ENI.

The discovery by the Texas-based Anadarko (Area 1) and Italian firm ENI (Area 4) would see the American company build an LNG plant to process the gas they discovered. This would be off the northern coast of Mozambique near the border with Tanzania.

The project to construct the Afungi LNG Park was valued at US$25-30 billion in a joint venture of developers including another American company McDermott, Saipem (Italy) and Chiyoda (Japan).

Read: Mozambique’s business sector losses $453 million

Anadarko expected to conclude several sales and purchase agreements (SPA) by year-end for liquefied natural gas (LNG) and they announced their final investment decision in June 2019 in the amount of US$25 billion. This was …